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Gold consolidates above critical price level going into mid-week

Continuing its recovery from its early August dip, gold is hovering around the critical price level of £1,305 ($1,800) going into mid-week. The precious metal’s resurgence is being fuelled by predictions that soaring Delta case rates could mean the Federal Reserve won’t officially announce tapering plans at the Jackson Hole symposium which is scheduled to take place later this week.

This expectation comes as the new virus wave makes its presence felt in economic terms, with sluggish data leading economists to believe that the Federal Reserve will have no choice but to continue its stimulus measures, potentially into next year.

With gold looking stronger by the day right now, don’t miss your opportunity to buy.

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